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- Nifty seems like consolidating now after breaking the 16k barrier. Overall breadth of the market doesn’t seem very promising.
- A lot of IPO’s came in last week and few are running now. Promoters are very well capitalising the bull market by dumping the shares to public.
- Since, index is bullish I am looking for PE sells at breakouts and supports with intraday call sells from resistance. Will be employing a more tactical approach.
- US markets are at all time highs too, now only employment data seems to matter in short term.
- Commodities including gold and silver seems to have slowed down and waiting for more information.
- Meanwhile in RRP land, daily close to $1tn dollars are parked at FED reverse Repo Facility. Now it is a common operation and nobody seems to be fazed by it.